Bitcoin anyone?

[JOHNBROCHILL]

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Agree with this. Crypto tech is here to stay, not sure if the current currencies are going to be the same in 10 years. China bans crypto and is creating their own digital currency. I bet other major currencies do something similar.

The whole point of cryptocurrency is not that it is a digital currency, but that it is decentralized. It does not rely on any one central authority to create, distribute, or decide on its access. No governments, no banks. The ledger is validated via majority consensus on a blockchain to assure history of transactions are correct. There is not outside influence. A major government like China trying to create its own is just China trying to keep power, and the exact reason why crypto is needed. My point is crypto will never be created by a government and used by the people because that's not what its purpose is. The crypto we see now is very accurate to how the tech will look in the future.

Personally half my ownings are on an exchange in a savings account with stable coins (9%+ apy) and the other half is largely ethereum/btc with some holdings in ADA and DOT. I am most bullish on ethereum and have been buying hungrily during the current dip.

 

[chessknt]

The whole point of cryptocurrency is not that it is a digital currency, but that it is decentralized. It does not rely on any one central authority to create, distribute, or decide on its access. No governments, no banks. The ledger is validated via majority consensus on a blockchain to assure history of transactions are correct. There is not outside influence. A major government like China trying to create its own is just China trying to keep power, and the exact reason why crypto is needed. My point is crypto will never be created by a government and used by the people because that's not what its purpose is. The crypto we see now is very accurate to how the tech will look in the future.

Personally half my ownings are on an exchange in a savings account with stable coins (9%+ apy) and the other half is largely ethereum/btc with some holdings in ADA and DOT. I am most bullish on ethereum and have been buying hungrily during the current dip.

Just to be clear your entire retirement plan is based on an asset that has been around for less than 15 years?

 

[JOHNBROCHILL]

Just to be clear your entire retirement plan is based on an asset that has been around for less than 15 years?

Sorry I should have made that more clear. Half of my crypto investments are in stable coins and the other half are largely eth/btc.

 

[chessknt]

Sorry I should have made that more clear. Half of my crypto investments are in stable coins and the other half are largely eth/btc.

Ah ok.

What platform do you use for the interest bearing accounts? I have pondered utilizing this as an alternative for my emergency fund but have been a bit deterred by potential liquidity risks as well as potential unreimbursed loss but think these risks might be small enough to give it a go.

 

[JOHNBROCHILL]

Celsius gives some of the highest rates, BlockFi is another reputable platform. I basically have done this with my emergency fund too, traditional bank account rates are just so criminally low. That said these platforms are not FDIC insured but often carry some form of commercial insurance. Definitely have to do your own research about what risk you can be comfortable with.

 

[deleted162650]

crypto will never be created by a government

BTC “inventor” = Satoshi Nakamoto

Satoshi roughly translates to “intelligence”

Nakamoto roughly translates to “center”

Satoshi Nakamoto = “Center Intelligence” = CIA

 

[doctalaughs]

The whole point of cryptocurrency is not that it is a digital currency, but that it is decentralized. It does not rely on any one central authority to create, distribute, or decide on its access. No governments, no banks. The ledger is validated via majority consensus on a blockchain to assure history of transactions are correct. There is not outside influence. A major government like China trying to create its own is just China trying to keep power, and the exact reason why crypto is needed. My point is crypto will never be created by a government and used by the people because that's not what its purpose is. The crypto we see now is very accurate to how the tech will look in the future.

That’s the problem that I foresee though. Right now crypto is small fish — but as it grows in the current form, more and more governments are not going to tolerate the lack of control — leading to more bans. If the US, China and a few more large economies ban bitcoin and ETH it will be worthless.

Who’s going to risk imprisonment and use these currencies if their government makes it illegal? Again- the fundamental issue of having a currency without backing of men with guns.

 

[linkin06]

That’s the problem that I foresee though. Right now crypto is small fish — but as it grows in the current form, more and more governments are not going to tolerate the lack of control — leading to more bans. If the US, China and a few more large economies ban bitcoin and ETH it will be worthless.

Who’s going to risk imprisonment and use these currencies if their government makes it illegal? Again- the fundamental issue of having a currency without backing of men with guns.

The IRS is always looking for new revenue streams, and it has classified it as an asset and starting to go after the taxes hard. It's gonna be here for good...

 

[Direct Laryngoscopy]

The whole point of cryptocurrency is not that it is a digital currency, but that it is decentralized. It does not rely on any one central authority to create, distribute, or decide on its access. No governments, no banks. The ledger is validated via majority consensus on a blockchain to assure history of transactions are correct. There is not outside influence. A major government like China trying to create its own is just China trying to keep power, and the exact reason why crypto is needed. My point is crypto will never be created by a government and used by the people because that's not what its purpose is. The crypto we see now is very accurate to how the tech will look in the future.

Personally half my ownings are on an exchange in a savings account with stable coins (9%+ apy) and the other half is largely ethereum/btc with some holdings in ADA and DOT. I am most bullish on ethereum and have been buying hungrily during the current dip.

I'm quite Bullish (have been for years). I have a running thread that hopefully has people here asking questions and doing some research.


Be ahead of the curve

 

[deleted697127]

I'm quite Bullish (have been for years). I have a running thread that hopefully has people here asking questions and doing some research.


Be ahead of the curve

I’m actually bullish on this new thread. Seems fresh. Like a young doge. Get in early!